Self-Regulatory Organizations; ISE Gemini, LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Extend the Price Improvement Mechanism Pilot Program, 43826-43828 [2015-18032]
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43826
Federal Register / Vol. 80, No. 141 / Thursday, July 23, 2015 / Notices
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consist of securities and other assets
selected and managed by its Manager or
Subadviser (as defined below) to pursue
the Fund’s investment objective.
2. The Manager is a Delaware limited
liability company and will be the
investment manager to the Initial Funds.
A Manager (as defined below) will serve
as investment manager to each Fund.
The Manager is, and any other Manager
will be, registered as an investment
adviser under the Investment Advisers
Act of 1940 (‘‘Advisers Act’’). The
Manager and the Trust may retain one
or more subadvisers (each a
‘‘Subadviser’’) to manage the portfolios
of the Funds. Any Subadviser will be
registered, or not subject to registration,
under the Advisers Act.
3. The Distributor is a Delaware
limited liability company and a brokerdealer registered under the Securities
Exchange Act of 1934 and will act as the
principal underwriter of Shares of the
Funds. Applicants request that the
requested relief apply to any distributor
of Shares, whether affiliated or
unaffiliated with the Manager (included
in the term ‘‘Distributor’’). Any
Distributor will comply with the terms
and conditions of the Order.
Applicants’ Requested Exemptive Relief
4. Applicants seek the requested
Order under section 6(c) of the Act for
an exemption from sections 2(a)(32),
5(a)(1), 22(d) and 22(e) of the Act and
rule 22c–1 under the Act, under
sections 6(c) and 17(b) of the Act for an
exemption from sections 17(a)(1) and
17(a)(2) of the Act, and under section
12(d)(1)(J) of the Act for an exemption
from sections 12(d)(1)(A) and (B) of the
Act. The requested Order would permit
applicants to offer exchange-traded
managed funds. Because the relief
requested is the same as the relief
granted by the Commission under the
Reference Order and because the
Manager has entered into, or anticipates
entering into, a licensing agreement
with Eaton Vance Management, or an
affiliate thereof in order to offer
exchange-traded managed funds,2 the
Order would incorporate by reference
the terms and conditions of the
Reference Order.
5. Applicants request that the Order
apply to the Initial Funds and to any
other existing or future open-end
management investment company or
series thereof that: (a) Is advised by the
Manager or any entity controlling,
controlled by, or under common control
with the Manager (any such entity
2 Eaton Vance Management has obtained patents
with respect to certain aspects of the Funds’ method
of operation as exchange-traded managed funds.
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18:39 Jul 22, 2015
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included in the term ‘‘Manager’’); and
(b) operates as an exchange-traded
managed fund as described in the
Reference Order; and (c) complies with
the terms and conditions of the Order
and of the Reference Order, which is
incorporated by reference herein (each
such company or series and Initial
Fund, a ‘‘Fund’’).3
6. Section 6(c) of the Act provides that
the Commission may exempt any
person, security or transaction, or any
class of persons, securities or
transactions, from any provisions of the
Act, if and to the extent that such
exemption is necessary or appropriate
in the public interest and consistent
with the protection of investors and the
purposes fairly intended by the policy
and provisions of the Act. Section 17(b)
of the Act authorizes the Commission to
exempt a proposed transaction from
section 17(a) of the Act if evidence
establishes that the terms of the
transaction, including the consideration
to be paid or received, are reasonable
and fair and do not involve
overreaching on the part of any person
concerned, and the proposed
transaction is consistent with the
policies of the registered investment
company and the general purposes of
the Act. Section 12(d)(1)(J) of the Act
provides that the Commission may
exempt any person, security, or
transaction, or any class or classes of
persons, securities or transactions, from
any provision of section 12(d)(1) if the
exemption is consistent with the public
interest and the protection of investors.
7. Applicants submit that for the
reasons stated in the Reference Order:
(1) With respect to the relief requested
pursuant to section 6(c) of the Act, the
relief is appropriate, in the public
interest and consistent with the
protection of investors and the purposes
fairly intended by the policy and
provisions of the Act; (2) with respect to
the relief request pursuant to section
17(b) of the Act, the proposed
transactions are reasonable and fair and
do not involve overreaching on the part
of any person concerned, are consistent
with the policies of each registered
investment company concerned and
consistent with the general purposes of
the Act; and (3) with respect to the relief
requested pursuant to section 12(d)(1)(J)
of the Act, the relief is consistent with
the public interest and the protection of
investors.
3 All entities that currently intend to rely on the
Order are named as applicants. Any other entity
that relies on the Order in the future will comply
with the terms and conditions of the Order and of
the Reference Order, which is incorporated by
reference herein.
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By the Division of Investment
Management, pursuant to delegated
authority.
Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015–18030 Filed 7–22–15; 8:45 am]
BILLING CODE 8011–01–P
SECURITIES AND EXCHANGE
COMMISSION
[Release No. 34–75481; File No. SR–
ISEGemini-2015–13]
Self-Regulatory Organizations; ISE
Gemini, LLC; Notice of Filing and
Immediate Effectiveness of Proposed
Rule Change To Extend the Price
Improvement Mechanism Pilot
Program
July 17, 2015.
Pursuant to Section 19(b)(1) of the
Securities Exchange Act of 1934 (the
‘‘Act’’),1 and Rule 19b–4 thereunder,2
notice is hereby given that on July 16,
2015, ISE Gemini, LLC (the ‘‘Exchange’’
or ‘‘ISE Gemini’’) filed with the
Securities and Exchange Commission
(‘‘Commission’’) the proposed rule
change as described in Items I and II
below, which Items have been prepared
by the self-regulatory organization. The
Commission is publishing this notice to
solicit comments on the proposed rule
change from interested persons.
I. Self-Regulatory Organization’s
Statement of the Terms of Substance of
the Proposed Rule Change
ISE Gemini proposes to extend two
pilot programs related to its Price
Improvement Mechanism (‘‘PIM’’). The
text of the proposed rule change is
available on the Exchange’s Web site
www.ise.com, at the principal office of
the Exchange, and at the Commission’s
Public Reference Room.
II. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
In its filing with the Commission, the
self-regulatory organization included
statements concerning the purpose of,
and basis for, the proposed rule change
and discussed any comments it received
on the proposed rule change. The text
of these statements may be examined at
the places specified in Item IV below.
The self-regulatory organization has
prepared summaries, set forth in
sections A, B and C below, of the most
significant aspects of such statements.
1 15
2 17
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U.S.C. 78s(b)(1).
CFR 240.19b–4.
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Federal Register / Vol. 80, No. 141 / Thursday, July 23, 2015 / Notices
A. Self-Regulatory Organization’s
Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule
Change
1. Purpose
The Exchange currently has two pilot
programs related to its PIM (collectively,
the ‘‘PIM Pilot Programs’’ or ‘‘Pilot
Programs’’).3 The current Pilot Period
provided in paragraphs .03 and .05 of
the Supplementary Material to Rule 723
is set to expire on July 17, 2015.4
Paragraph .03 provides that there is no
minimum size requirement for orders to
be eligible for the Price Improvement
Mechanism. Paragraph .05 concerns the
termination of the exposure period by
unrelated orders. The Exchange has
continually submitted certain data in
support of extending the current Pilot
Programs. The Exchange proposes to
extend these Pilot Programs in their
present form, through July 18, 2016, to
give the Exchange and the Commission
additional time to evaluate the effects of
these Pilot Programs before the
Exchange requests permanent approval
of the rules. To aid the Commission in
its evaluation of the PIM Functionality,
ISE Gemini represents that it will
provide certain additional data
requested by the Commission regarding
trading in the PIM for the six (6) month
period from January 1, 2015 through
June 30, 2015. The Exchange agrees to
provide this data by January 18, 2016
and to make the summary of the data
provided to the Commission publicly
available.
2. Statutory Basis
mstockstill on DSK4VPTVN1PROD with NOTICES
The basis under the Securities
Exchange Act of 1934 (the ‘‘Exchange
Act’’) for this proposed rule change is
found in Section 6(b)(5), in that the
proposed rule change is designed to
promote just and equitable principles of
trade, remove impediments to and
perfect the mechanisms of a free and
open market and a national market
system and, in general, to protect
investors and the public interest.
The Exchange believes the Pilot
Programs are consistent with the
Exchange Act because they provide
opportunity for price improvement for
all orders executed in the Exchange’s
Price Improvement Mechanism. The
proposed extension would allow the
3 See Securities Exchange Act Release No. 70050
(July 26, 2013), 78 FR 46622 (August 1, 2013)
(Order Granting the Application of Topaz Exchange,
LLC for Registration as a National Securities
Exchange).
4 See Exchange Act Release Nos. 70636 (October
9, 2013), 78 FR 62838 (October 22, 2013) (SR–
TOPAZ–2013–05) and 72466 (June 25, 2014), 79 FR
37378 (July 1, 2014) (SR–ISE Gemini-2014–17).
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18:39 Jul 22, 2015
Jkt 235001
Pilot Programs to continue
uninterrupted, thereby avoiding any
potential investor confusion that could
result from a temporary interruption to
the pilot. Further, the Exchange believes
that the data demonstrates that there is
sufficient investor interest and demand
to extend the Pilot Programs for an
additional twelve months. The
Exchange further believes it is
appropriate to extend the Pilot Programs
to provide the Exchange and
Commission more data upon which to
evaluate the rules. With this data, the
Commission can evaluate whether the
new data shows there is meaningful
competition for all size orders within
the PIM, whether there is significant
price improvement for all orders
executed through the PIM, and whether
there is an active and liquid market
functioning on the Exchange outside of
the PIM.
B. Self-Regulatory Organization’s
Statement on Burden on Competition
The Exchange does not believe that
the proposed rule change will impose
any burden on competition that is not
necessary or appropriate in furtherance
of the purposes of the Exchange Act.
Specifically, the Exchange believes that,
by extending the expiration of the Pilot
Programs, the proposed rule change will
allow for further analysis of the PIM. In
doing so, the proposed rule change will
also serve to promote regulatory clarity
and consistency, thereby reducing
burdens on the marketplace and
facilitating investor protection.
C. Self-Regulatory Organization’s
Statement on Comments on the
Proposed Rule Change Received From
Members, Participants, or Others
The Exchange has not solicited, and
does not intend to solicit, comments on
this proposed rule change. The
Exchange has not received any written
comments from members or other
interested parties.
III. Date of Effectiveness of the
Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule
change does not: (i) Significantly affect
the protection of investors or the public
interest; (ii) impose any significant
burden on competition; and (iii) become
operative for 30 days from the date on
which it was filed, or such shorter time
as the Commission may designate, it has
become effective pursuant to Section
19(b)(3)(A) of the Act and Rule 19b–
4(f)(6) thereunder.5
5 17 CFR 240.19b–4(f)(6). As required under Rule
19b–4(f)(6)(iii), the Exchange provided the
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43827
A proposed rule change filed
pursuant to Rule 19b–4(f)(6) under the
Act 6 normally does not become
operative for 30 days after the date of its
filing. However, Rule 19b–4(f)(6)(iii) 7
permits the Commission to designate a
shorter time if such action is consistent
with the protection of investors and the
public interest. The Exchange has
requested that the Commission waive
the 30-day operative delay period
because the Pilot Programs are set to
expire on July 17, 2015. The Exchange
noted that such waiver will allow the
Pilot Programs to continue
uninterrupted.
The Commission believes that
waiving the 30-day operative delay is
consistent with the protection of
investors and the public interest, as it
will allow the Pilot Programs to
continue uninterrupted, thereby
avoiding any potential investor
confusion that could result from a
temporary interruption in the Pilot
Programs. For this reason, the
Commission designates the proposed
rule change to be operative on July 17,
2015.8
At any time within 60 days of the
filing of the proposed rule change, the
Commission summarily may
temporarily suspend such rule change if
it appears to the Commission that such
action is necessary or appropriate in the
public interest, for the protection of
investors, or otherwise in furtherance of
the purposes of the Act. If the
Commission takes such action, the
Commission shall institute proceedings
to determine whether the proposed rule
should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to
submit written data, views, and
arguments concerning the foregoing,
including whether the proposed rule
change is consistent with the Act.
Comments may be submitted by any of
the following methods:
Electronic Comments
• Use the Commission’s Internet
comment form (https://www.sec.gov/
rules/sro.shtml); or
Commission with written notice of its intent to file
the proposed rule change, along with a brief
description and the text of the proposed rule
change, at least five business days prior to the date
of filing of the proposed rule change, or such
shorter time as designated by the Commission.
6 17 CFR 240.19b–4(f)(6).
7 17 CFR 240.19b–4(f)(6)(iii).
8 For purposes only of waiving the operative
delay for this proposal, the Commission has
considered the proposed rule’s impact on
efficiency, competition, and capital formation. See
15 U.S.C. 78c(f).
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43828
Federal Register / Vol. 80, No. 141 / Thursday, July 23, 2015 / Notices
• Send an email to rule-comments@
sec.gov. Please include File Number SR–
ISEGemini-2015–13 on the subject line.
should refer to File Number SR–
ISEGemini-2015–13, and should be
submitted on or before August 13, 2015.
Paper Comments
For the Commission, by the Division of
Trading and Markets, pursuant to delegated
authority.9
Robert W. Errett,
Deputy Secretary.
• Send paper comments in triplicate
to Brent J. Fields, Secretary, Securities
and Exchange Commission, 100 F Street
NE., Washington, DC 20549–1090.
All submissions should refer to File
Number SR–ISEGemini-2015–13. This
file number should be included on the
subject line if email is used. To help the
Commission process and review your
comments more efficiently, please use
only one method. The Commission will
post all comments on the Commission’s
Internet Web site (https://www.sec.gov/
rules/sro.shtml). Copies of the
submission, all subsequent
amendments, all written statements
with respect to the proposed rule
change that are filed with the
Commission, and all written
communications relating to the
proposed rule change between the
Commission and any person, other than
those that may be withheld from the
public in accordance with the
provisions of 5 U.S.C. 552, will be
available for Web site viewing and
printing in the Commission’s Public
Reference Room, 100 F Street NE.,
Washington, DC 20549 on official
business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such
filing also will be available for
inspection and copying at the principal
office of the Exchange. All comments
received will be posted without change;
the Commission does not edit personal
identifying information from
submissions. You should submit only
information that you wish to make
available publicly. All submissions
[FR Doc. 2015–18032 Filed 7–22–15; 8:45 am]
BILLING CODE 8011–01–P
SOCIAL SECURITY ADMINISTRATION
[Docket No: SSA–2015–0046]
Agency Information Collection
Activities: Proposed Request and
Comment Request
The Social Security Administration
(SSA) publishes a list of information
collection packages requiring clearance
by the Office of Management and
Budget (OMB) in compliance with
Public Law 104–13, the Paperwork
Reduction Act of 1995, effective October
1, 1995. This notice includes revisions
and reinstatements of OMB-approved
information collections.
SSA is soliciting comments on the
accuracy of the agency’s burden
estimate; the need for the information;
its practical utility; ways to enhance its
quality, utility, and clarity; and ways to
minimize burden on respondents,
including the use of automated
collection techniques or other forms of
information technology. Mail, email, or
fax your comments and
recommendations on the information
collection(s) to the OMB Desk Officer
and SSA Reports Clearance Officer at
the following addresses or fax numbers.
(OMB) Office of Management and
Budget, Attn: Desk Officer for SSA,
Number of
respondents
Modality of completion
Fax: 202–395–6974, Email address:
OIRA_Submission@omb.eop.gov.
(SSA) Social Security Administration,
OLCA, Attn: Reports Clearance
Director, 3100 West High Rise, 6401
Security Blvd., Baltimore, MD 21235,
Fax: 410–966–2830, Email address:
OR.Reports.Clearance@ssa.gov.
Or you may submit your comments
online through www.regulations.gov,
referencing Docket ID Number [SSA–
2015–0046].
I. The information collections below
are pending at SSA. SSA will submit
them to OMB within 60 days from the
date of this notice. To be sure we
consider your comments, we must
receive them no later than September
21, 2015. Individuals can obtain copies
of the collection instruments by writing
to the above email address.
1. Authorization for the Social
Security Administration to Obtain
Account Records from a Financial
Institution—20 CFR 416.200 and
416.203—0960–0293. SSA collects and
verifies financial information from
individuals applying for Supplemental
Security Income (SSI) payments to
determine if the applicant meets the SSI
resource eligibility requirements. If the
SSI claimants provide incomplete,
unavailable, or seemingly altered
records, SSA contacts their financial
institutions to verify the existence,
ownership, and value of accounts
owned. Financial institutions require
individuals to sign Form SSA–4641–F4,
or complete the e4641 electronic
application, to authorize them to
disclose records to SSA. The
respondents are SSI applicants,
recipients, and their deemors.
Type of Request: Revision of an OMBapproved information collection.
Frequency of
response
Average
burden per
response
(minutes)
Estimated
total annual
burden
(hours)
252,500
15,747,500
1
1
6
2
25,250
524,917
Totals ........................................................................................................
mstockstill on DSK4VPTVN1PROD with NOTICES
SSA–4641 (paper) ...........................................................................................
e4641 (electronic) ............................................................................................
16,000,000
........................
........................
550,167
2. Site Review Questionnaire for
Volume and Fee-for-Service Payees and
Beneficiary Interview Form—20 CFR
404.2035, 404.2065, 416.665, 416.701,
and 416.708—0960–0633. SSA asks
organizational representative payees to
complete Form SSA–637, the Site
Review Questionnaire for Volume and
Fee-for-Service Payees, to provide
information on how they carry out their
9 17
responsibilities, including how they
manage beneficiary funds. SSA then
obtains information from the
beneficiaries these organizations
represent via Form SSA–639,
Beneficiary Interview Form, to
corroborate the payees’ statements. Due
to the sensitivity of the information,
SSA employees always complete the
forms based on the answers respondents
give during the interview. The
respondents are individuals, State and
local governments, non-profit and forprofit organizations serving as
representative payees, and the
beneficiaries they serve.
Type of Request: Revision of an OMBapproved information collection.
CFR 200.30–3(a)(12).
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]]>Agencies
[Federal Register Volume 80, Number 141 (Thursday, July 23, 2015)]
[Notices]
[Pages 43826-43828]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-18032]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
[Release No. 34-75481; File No. SR-ISEGemini-2015-13]
Self-Regulatory Organizations; ISE Gemini, LLC; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Extend the Price
Improvement Mechanism Pilot Program
July 17, 2015.
Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(the ``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given
that on July 16, 2015, ISE Gemini, LLC (the ``Exchange'' or ``ISE
Gemini'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I and
II below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------
\1\ 15 U.S.C. 78s(b)(1).
\2\ 17 CFR 240.19b-4.
---------------------------------------------------------------------------
I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change
ISE Gemini proposes to extend two pilot programs related to its
Price Improvement Mechanism (``PIM''). The text of the proposed rule
change is available on the Exchange's Web site www.ise.com, at the
principal office of the Exchange, and at the Commission's Public
Reference Room.
II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
In its filing with the Commission, the self-regulatory organization
included statements concerning the purpose of, and basis for, the
proposed rule change and discussed any comments it received on the
proposed rule change. The text of these statements may be examined at
the places specified in Item IV below. The self-regulatory organization
has prepared summaries, set forth in sections A, B and C below, of the
most significant aspects of such statements.
[[Page 43827]]
A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change
1. Purpose
The Exchange currently has two pilot programs related to its PIM
(collectively, the ``PIM Pilot Programs'' or ``Pilot Programs'').\3\
The current Pilot Period provided in paragraphs .03 and .05 of the
Supplementary Material to Rule 723 is set to expire on July 17,
2015.\4\ Paragraph .03 provides that there is no minimum size
requirement for orders to be eligible for the Price Improvement
Mechanism. Paragraph .05 concerns the termination of the exposure
period by unrelated orders. The Exchange has continually submitted
certain data in support of extending the current Pilot Programs. The
Exchange proposes to extend these Pilot Programs in their present form,
through July 18, 2016, to give the Exchange and the Commission
additional time to evaluate the effects of these Pilot Programs before
the Exchange requests permanent approval of the rules. To aid the
Commission in its evaluation of the PIM Functionality, ISE Gemini
represents that it will provide certain additional data requested by
the Commission regarding trading in the PIM for the six (6) month
period from January 1, 2015 through June 30, 2015. The Exchange agrees
to provide this data by January 18, 2016 and to make the summary of the
data provided to the Commission publicly available.
---------------------------------------------------------------------------
\3\ See Securities Exchange Act Release No. 70050 (July 26,
2013), 78 FR 46622 (August 1, 2013) (Order Granting the Application
of Topaz Exchange, LLC for Registration as a National Securities
Exchange).
\4\ See Exchange Act Release Nos. 70636 (October 9, 2013), 78 FR
62838 (October 22, 2013) (SR-TOPAZ-2013-05) and 72466 (June 25,
2014), 79 FR 37378 (July 1, 2014) (SR-ISE Gemini-2014-17).
---------------------------------------------------------------------------
2. Statutory Basis
The basis under the Securities Exchange Act of 1934 (the ``Exchange
Act'') for this proposed rule change is found in Section 6(b)(5), in
that the proposed rule change is designed to promote just and equitable
principles of trade, remove impediments to and perfect the mechanisms
of a free and open market and a national market system and, in general,
to protect investors and the public interest.
The Exchange believes the Pilot Programs are consistent with the
Exchange Act because they provide opportunity for price improvement for
all orders executed in the Exchange's Price Improvement Mechanism. The
proposed extension would allow the Pilot Programs to continue
uninterrupted, thereby avoiding any potential investor confusion that
could result from a temporary interruption to the pilot. Further, the
Exchange believes that the data demonstrates that there is sufficient
investor interest and demand to extend the Pilot Programs for an
additional twelve months. The Exchange further believes it is
appropriate to extend the Pilot Programs to provide the Exchange and
Commission more data upon which to evaluate the rules. With this data,
the Commission can evaluate whether the new data shows there is
meaningful competition for all size orders within the PIM, whether
there is significant price improvement for all orders executed through
the PIM, and whether there is an active and liquid market functioning
on the Exchange outside of the PIM.
B. Self-Regulatory Organization's Statement on Burden on Competition
The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Exchange Act. Specifically, the
Exchange believes that, by extending the expiration of the Pilot
Programs, the proposed rule change will allow for further analysis of
the PIM. In doing so, the proposed rule change will also serve to
promote regulatory clarity and consistency, thereby reducing burdens on
the marketplace and facilitating investor protection.
C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others
The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any written comments from members or other interested parties.
III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action
Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act and Rule 19b-
4(f)(6) thereunder.\5\
---------------------------------------------------------------------------
\5\ 17 CFR 240.19b-4(f)(6). As required under Rule 19b-
4(f)(6)(iii), the Exchange provided the Commission with written
notice of its intent to file the proposed rule change, along with a
brief description and the text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission.
---------------------------------------------------------------------------
A proposed rule change filed pursuant to Rule 19b-4(f)(6) under the
Act \6\ normally does not become operative for 30 days after the date
of its filing. However, Rule 19b-4(f)(6)(iii) \7\ permits the
Commission to designate a shorter time if such action is consistent
with the protection of investors and the public interest. The Exchange
has requested that the Commission waive the 30-day operative delay
period because the Pilot Programs are set to expire on July 17, 2015.
The Exchange noted that such waiver will allow the Pilot Programs to
continue uninterrupted.
---------------------------------------------------------------------------
\6\ 17 CFR 240.19b-4(f)(6).
\7\ 17 CFR 240.19b-4(f)(6)(iii).
---------------------------------------------------------------------------
The Commission believes that waiving the 30-day operative delay is
consistent with the protection of investors and the public interest, as
it will allow the Pilot Programs to continue uninterrupted, thereby
avoiding any potential investor confusion that could result from a
temporary interruption in the Pilot Programs. For this reason, the
Commission designates the proposed rule change to be operative on July
17, 2015.\8\
---------------------------------------------------------------------------
\8\ For purposes only of waiving the operative delay for this
proposal, the Commission has considered the proposed rule's impact
on efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
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At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act. If the Commission
takes such action, the Commission shall institute proceedings to
determine whether the proposed rule should be approved or disapproved.
IV. Solicitation of Comments
Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:
Electronic Comments
Use the Commission's Internet comment form (https://www.sec.gov/rules/sro.shtml); or
[[Page 43828]]
Send an email to rule-comments@sec.gov. Please include
File Number SR-ISEGemini-2015-13 on the subject line.
Paper Comments
Send paper comments in triplicate to Brent J. Fields,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.
All submissions should refer to File Number SR-ISEGemini-2015-13. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of such filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-ISEGemini-2015-13, and
should be submitted on or before August 13, 2015.
For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
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\9\ 17 CFR 200.30-3(a)(12).
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Robert W. Errett,
Deputy Secretary.
[FR Doc. 2015-18032 Filed 7-22-15; 8:45 am]
BILLING CODE 8011-01-P
